Madeira Blockchain Conference 2024: Highlights from day one with insights from industry leaders
Madeira Blockchain Conference 2024: Highlights from day one with insights from industry leaders
Funchal, Madeira – The third edition of the Madeira Blockchain Conference kicked off this morning at the Funchal Cultural and Research Center, featuring leaders and experts in blockchain, Web3, and Artificial Intelligence (AI).
Key Insights from Speakers
Maurício Marques, CEO of Yacooba Labs and host of the event, highlighted the transformative nature of blockchain technology, describing it as a “philosophy of life.” Speaking to the media, Marques stated:
“Blockchain decentralizes data management, enabling each internet user to have a highly secure wallet, giving citizens the responsibility to manage their own data.”
Referring to the recent cyberattack on Madeira’s healthcare system, SESARAM, Marques underscored blockchain’s resilience: “If SESARAM had used blockchain for data management, there would have been no economic incentive for hackers to target 240,000 individual wallets. Blockchain fundamentally reorganizes society into a decentralized perspective, applicable across numerous industries.”
However, Marques acknowledged the challenges of adoption, particularly for public entities. “Most public organizations are overly centralist in their approach. Blockchain represents a revolutionary change, but such transitions are never easy,” he noted.
Pedro Coutinho, Strategic Advisor at Yacooba Labs, emphasized the importance of blockchain for data security: “Blockchain technology works as a ‘digital vault’ to enhance data security within IT networks.”
Miguel Pupo Correia, professor at the Instituto Superior Técnico (IST), highlighted the progress of the European Regulation for creating a digital wallet, which will include comprehensive citizen data, such as academic qualifications and property ownership.
Regional and National Perspectives
During the opening session, Cristina Pedra, Mayor of Funchal, praised the conference as a pivotal initiative for the region, emphasizing the city’s commitment to attracting talent and fostering technological innovation. Pedra highlighted the eGamesLab consortium, supported by the municipality, which focuses on technologies such as blockchain, AI, and the creative gaming industry.
“Through PRR funding, we support initiatives like eGamesLab, which bring together public and private entities to drive innovation in gaming and technology. This work is essential for attracting talent and fostering economic development,” Pedra stated.
She also highlighted the project’s results, including the employment of 27 researchers, the production of 22 scientific works, and multiple outreach events.
João Rui Ferreira, Portugal’s Secretary of State for the Economy, emphasized the country’s focus on technological innovation, particularly in healthcare. Regarding the Madeira Blockchain Conference, he remarked, “It’s an opportunity for creative minds to present ideas with the potential to generate new businesses.”
Miguel Albuquerque, President of the Regional Government of Madeira, closed the opening session with an optimistic view of technology: “I don’t fear technology; I see it as an opportunity to build a better world,” he said.
Albuquerque outlined Madeira’s goal of transitioning to a tech-driven economy. “In 2022, we had 508 tech companies in the region, generating €600 million. Today, there are approximately 700 companies, with revenues exceeding €800 million,” he revealed.
The President also highlighted Madeira’s competitive advantages, such as its high quality of life, tax incentives, excellent healthcare, and the availability of skilled graduates from the University of Madeira.
A National and International Benchmark for Blockchain Innovation
The Madeira Blockchain Conference has established itself as a flagship event in Portugal, attracting experts and enthusiasts from around the world. It plays a vital role in advancing blockchain technology in the country and positioning Portugal as an innovation hub.